Filing Flows › Empire Petroleum (EP) › Q3 2025
Empire Petroleum (EP) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 14, 2025
Empire Petroleum (EP) reported revenue of $9.4M for the third quarter 2025 (Q3 2025), -17% from a year earlier and +7% from the quarter before. Operating margin was -37.8%, net loss $3.8M (40.9% of revenue).
Empire Petroleum, Q3 2025: revenue $9.4M (-18% year over year), operating margin -37.8%, net loss $3.8M, operating cash flow $330K. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $9.4M | +7% | -17% |
| Operating profit | −$3.5M | — | — |
| Net earnings | −$3.8M | — | — |
| Operating cash flow | $330K | — | -97% |
| Free cash flow | $318K | — | — |
What changed
Revenue was $9.4M in Q3 2025, down 17% year over year and up 7% from the previous quarter. Oil Sales was the largest line at 94% of revenue. Oil Sales lost $1.6M year over year (down 15%), 78% of the total change.
Operating costs exceeded revenue by $3.5M, an operating margin of -37.8%. Total costs fell 13% while revenue fell 17%. The quarter ended with a net loss of $3.8M, narrower than the previous quarter's $5.1M loss.
Operating cash flow was $330K (down 97% year over year). Non-cash charges added back $2.8M of depreciation and amortization and $238K of share-based compensation. Working capital and other items added $1.1M. Capital expenditures of $12K left free cash flow of $318K.
Questions
What was Empire Petroleum's revenue in the third quarter 2025?
Empire Petroleum (EP) reported revenue of $9.4M for the third quarter 2025 (Q3 2025), -17% from a year earlier and +7% from the quarter before.
Was Empire Petroleum profitable in the third quarter 2025?
Operating loss was $3.5M (-37.8% of revenue) and net loss $3.8M.
Source: Empire Petroleum 10-Q on SEC EDGAR.